Consider the Mark-to-Market Settlements for 1 gold futures contracts maturing in 5 months. Assume that the risk-free rate available to investors is 6% per annum with quarterly compounding and that no arbitrage relationship between spot and futures prices (Futures-Spot parity) with continuous compounding holds in all months. Also assume that the initial margin is $18,000 per contract, while the maintenance margin is $6000 per contract Month Spot Price End of Month(S) Futures Price, End of Month (F) Change in Futures Price Contract Size (ounces) Buyer/Long Position Seller/Short Position Contract Initiated 0 1307.00 1339.84 -- 100 (c) (c) Initial Margin 1 1309.00 1335.25 (b) 100 (c) (c) Monthly Adjustments 2 (a) 1336.76 (b) 100 (c) (c) 3 1332.00 1345.29 (b) 100 (c) (c) 4 1325.00 (a) (b) 100 (c) (c) Delivery 5 (a) 1321.00 (b) 100 (c) (c) (c) (c) Account Bal. Month 5 For the questions below answers must contain at least three digits after the decimal point. In the table above, show your answers in the cells marked by a (10 pts) In the table above, show your answers in the cells marked by b (9 pts) In the table above, show your answers in the cells marked by c (9 pts)